Nifty and Bank Nifty Prediction for Thursday 27 Oct 2022
Nifty and Bank Nifty Prediction for Thursday 27 Oct 2022: The Indian stock market indexes snap a 7-day winning streak on Tuesday, amid mixed global cues. After opening higher today, the equity benchmark indexes turned negative and finally settled below their neutral lines. Among the sectors, PSU Banks, auto, and IT stocks were in demand while FMCG, Pvt Banking, and Financial services witnessed some profit booking today.
The broader markets were closed mixed today, as the Nifty midcap index gained 0.45 points while smallcap index was done by 0.13 percent. At the close, the Nifty and Sensex were down by 0.48 percent and 0.42 percent respectively. You can read detailed market updates here
Nifty and Bank Nifty futures price movement for 25 Oct (Oct Expiry)
The Nifty futures price opened at 17772.10, making a positive opening of 39.55 points today. It has touched an intraday high of 17790 and a day’s low of 17642.60
The Nifty futures price has given a movement of 147.4 points today. In the end, it closed lower by 80.55 points or 0.45 percent and ended at 17652 levels.
The Bank Nifty futures opened at 41530.80 It made a positive opening of 260.80 points. The Bank Nifty futures has touched an intraday high at 41540 and a day’s low at 41035.60
During the day, the Bank Nifty futures has given a movement of 504.4 points. In the end, it closed lower by 229 points or 0.55 percent and closed at 41041 levels.
Nifty & Bank Nifty Prediction for Thursday 27 Oct 2022 (Oct Expiry)
Nifty Futures Prediction for Thursday 27 Oct 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17800 whereas All Down Moves Initiates Short Covering (Buy) @ 17550
If the Nifty futures share price Moves Above 17718 and sustain. Then you should Buy with 1st Target of 17746 during the day with a Stop Loss of 17665 FOR the Target of 17746- 17780- 17809- 17836
If the Nifty futures share price Moves Below 17600 and is sustained. Then you should Sell with the 1st Target of 17572 for the day with a Stop Loss of 17645. For the Target of 17572- 17536- 17495- 17458
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Bank Nifty Futures Prediction for Thursday 27 Oct 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 41500 whereas All Down Moves Initiates Short Covering (Buy) @ 40800
Suppose the Bank Nifty futures Moves Above 41315 and sustain, then you should Buy with the 1st Target of 41450 during the day with a Stop Loss of 41185 and the Target of 41450- 41552- 41635 – 41715
If the Bank Nifty futures Moves Below 40900 and sustain, then you should Sell with the 1st Target of 40805 the day with a Stop Loss of 41050. For the Target of 40805- 40700- 40575- 40495
Global Stock Markets Today
On the global front, the other Asian stock market indexes closed mixed on Tuesday. China’s Shanghai closed slightly lower as the yuan slumped to a nearly 15-year low. Japan’s Nikkei gained due to some strong earnings results which raised hopes for other companies that might benefit from a weakened yen. Hang Seng index was closed lower as Anglo-Asian banking giant HSBC tumbled 5.11% in the special administrative region after it recorded a 42% fall in pre-tax profit on a YoY basis.,
European equity benchmark indexes pared some initial gains as investors eyed the latest corporate earnings and new UK prime minister Rishi Sunak’s warning of spending cuts and Finance Minister Jeremy Hunt’s budget on October 31. The US future indexes, Dow and Nasdaq futures are trading slightly lower at 6.15 pm, indicating a lower opening for the US markets today.
Conclusion
Indian markets witness a profit booking after pre-Diwali buying. On Wednesday Indian markets will remain closed on account of Bhai Dooj. Going ahead we may see some consolidation in the indexes but the tone is likely to remain positive. Investors should take the opportunity to buy quality stocks in dips.
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